diff --git a/apps/tests/ui/bindable-tests.ts b/apps/tests/ui/bindable-tests.ts
index 0cc4354c2..85c617145 100644
--- a/apps/tests/ui/bindable-tests.ts
+++ b/apps/tests/ui/bindable-tests.ts
@@ -465,6 +465,39 @@ export var test_getBindableOptionsFromStringTwoParamsNamedFormat = function () {
     TKUnit.assert(bindOptions.twoWay === true, "Expected: true, Actual: " + bindOptions.twoWay);
 }
 
+export var test_getBindingOptionsFromStringWithFunctionWitnMoreParams = function () {
+    var bindingExpression = "bindProperty, converter(bindProperty, param1)";
+    var bindOptions = bindingBuilder.getBindingOptions("targetBindProperty", bindingExpression);
+
+    TKUnit.assertEqual(bindOptions.sourceProperty, "bindProperty");
+    TKUnit.assertEqual(bindOptions.targetProperty, "targetBindProperty");
+    TKUnit.assertEqual(bindOptions.expression, "converter(bindProperty, param1)");
+    TKUnit.assertEqual(bindOptions.twoWay, true);
+}
+
+export var test_getBindingOptionsFromStringWithFunctionArrayParams = function () {
+    var bindingExpression = "bindProperty, converter(bindProperty, [param1, param2])";
+    var bindOptions = bindingBuilder.getBindingOptions("targetBindProperty", bindingExpression);
+
+    TKUnit.assertEqual(bindOptions.sourceProperty, "bindProperty");
+    TKUnit.assertEqual(bindOptions.targetProperty, "targetBindProperty");
+    TKUnit.assertEqual(bindOptions.expression, "converter(bindProperty, [param1, param2])");
+    TKUnit.assertEqual(bindOptions.twoWay, true);
+}
+
+export var test_bindingToNestedPropertyWithValueSyntax = function () {
+    var bindingSource = new observable.Observable();
+    bindingSource.set("testProperty", "testValue");
+
+    var testElement = new bindable.Bindable();
+    testElement.bind({
+        sourceProperty: "$value.testProperty",
+        targetProperty: "targetPropertyName"
+    }, bindingSource);
+
+    TKUnit.assertEqual(testElement.get("targetPropertyName"), "testValue");
+}
+
 export var test_TwoElementsBindingToSameBindingContext = function () {
     var testFunc = function (page: pageModule.Page) {
         var upperStackLabel = <labelModule.Label>(page.getViewById("upperStackLabel"));
diff --git a/apps/tests/ui/list-view/list-view-tests.ts b/apps/tests/ui/list-view/list-view-tests.ts
index 3885d787a..e7053a84a 100644
--- a/apps/tests/ui/list-view/list-view-tests.ts
+++ b/apps/tests/ui/list-view/list-view-tests.ts
@@ -530,6 +530,56 @@ export function test_BindingListViewToASimpleArrayWithExpression() {
     helper.buildUIAndRunTest(listView, testAction);
 }
 
+export function test_bindingToParentObject() {
+    var listView = new listViewModule.ListView();
+    var expectedValue = "parentTestValue";
+
+    function testAction(views: Array<viewModule.View>) {
+        var listViewModel = new observable.Observable();
+        listViewModel.set("items", [1, 2, 3]);
+        listViewModel.set("parentTestProp", expectedValue);
+        listView.bindingContext = listViewModel;
+        listView.bind({ sourceProperty: "items", targetProperty: "items" });
+        listView.itemTemplate = "<Label id=\"testLabel\" text=\"{{ sourceProperty = $parents[ListView].parentTestProp }}\" />";
+
+        TKUnit.wait(ASYNC);
+        var firstNativeElementText = getTextFromNativeElementAt(listView, 0);
+        var secondNativeElementText = getTextFromNativeElementAt(listView, 1);
+        var thirdNativeElementText = getTextFromNativeElementAt(listView, 2);
+
+        TKUnit.assertEqual(firstNativeElementText, expectedValue, "first element text");
+        TKUnit.assertEqual(secondNativeElementText, expectedValue, "second element text");
+        TKUnit.assertEqual(thirdNativeElementText, expectedValue, "third element text");
+    }
+
+    helper.buildUIAndRunTest(listView, testAction);
+}
+
+export function test_bindingToParentObjectWithSpacesInIndexer() {
+    var listView = new listViewModule.ListView();
+    var expectedValue = "parentTestValue";
+
+    function testAction(views: Array<viewModule.View>) {
+        var listViewModel = new observable.Observable();
+        listViewModel.set("items", [1, 2, 3]);
+        listViewModel.set("parentTestProp", expectedValue);
+        listView.bindingContext = listViewModel;
+        listView.bind({ sourceProperty: "items", targetProperty: "items" });
+        listView.itemTemplate = "<Label id=\"testLabel\" text=\"{{ sourceProperty = $parents[ ListView ].parentTestProp }}\" />";
+
+        TKUnit.wait(ASYNC);
+        var firstNativeElementText = getTextFromNativeElementAt(listView, 0);
+        var secondNativeElementText = getTextFromNativeElementAt(listView, 1);
+        var thirdNativeElementText = getTextFromNativeElementAt(listView, 2);
+
+        TKUnit.assertEqual(firstNativeElementText, expectedValue, "first element text");
+        TKUnit.assertEqual(secondNativeElementText, expectedValue, "second element text");
+        TKUnit.assertEqual(thirdNativeElementText, expectedValue, "third element text");
+    }
+
+    helper.buildUIAndRunTest(listView, testAction);
+}
+
 export function test_no_memory_leak_when_items_is_regular_array() {
     var createFunc = function (): listViewModule.ListView {
         var listView = new listViewModule.ListView();
diff --git a/ui/builder/binding-builder.ts b/ui/builder/binding-builder.ts
index 258c3c0fa..39ccbcf3e 100644
--- a/ui/builder/binding-builder.ts
+++ b/ui/builder/binding-builder.ts
@@ -1,4 +1,5 @@
-var expressionSymbolsRegex = /[ \+\-\*%\?:<>=!\|&\(\)\[\]^~]/;
+// regex that contains all symbols applicable for expression used to AI detect an expression.
+var expressionSymbolsRegex = /[ \+\-\*%\?:<>=!\|&\(\)\[\]^~]/;
 
 export module bindingConstants {
     export var sourceProperty = "sourceProperty";
@@ -7,6 +8,9 @@ export module bindingConstants {
     export var twoWay = "twoWay";
     export var source = "source";
     export var bindingValueKey = "$value";
+    export var parentValueKey = "$parent";
+    export var parentsValueKey = "$parents";
+    export var newPropertyValueKey = "$newPropertyValue";
 };
 
 var hasEqualSignRegex = /=+/;
@@ -87,9 +91,30 @@ function extractPropertyNameFromExpression(expression: string): string {
     }
 }
 
+function getParamsArray(value: string) {
+    var result = [];
+    var i;
+    var skipComma = 0;
+    var indexReached = 0;
+    for (i = 0; i < value.length; i++) {
+        if (value[i] === '(' || value[i] === '[') {
+            skipComma++;
+        }
+        if (value[i] === ')' || value[i] === ']') {
+            skipComma--;
+        }
+        if (value[i] === ',' && skipComma === 0) {
+            result.push(value.substr(indexReached, i - indexReached));
+            indexReached = i + 1;
+        }
+    }
+    result.push(value.substr(indexReached));
+    return result;
+}
+
 export function getBindingOptions(name: string, value: string): any {
     var namedParams = [];
-    var params = value.split(",");
+    var params = getParamsArray(value);
     if (!areNamedParams(params)) {
         if (params.length === 1) {
             namedParams.push(bindingConstants.sourceProperty + " = " + extractPropertyNameFromExpression(params[0].trim()));
@@ -100,7 +125,7 @@ export function getBindingOptions(name: string, value: string): any {
             namedParams.push(bindingConstants.twoWay + " = true");
         }
         else {
-            namedParams.push(bindingConstants.sourceProperty + " = " + extractPropertyNameFromExpression(params[0].trim()));
+            namedParams.push(bindingConstants.sourceProperty + " = " + params[0].trim());
             namedParams.push(bindingConstants.expression + " = " + params[1].trim());
             var twoWay = params[2] ? params[2].toLowerCase().trim() === "true" : true;
             namedParams.push(bindingConstants.twoWay + " = " + twoWay);
diff --git a/ui/core/bindable.ts b/ui/core/bindable.ts
index 7d08a58ea..1d4902180 100644
--- a/ui/core/bindable.ts
+++ b/ui/core/bindable.ts
@@ -21,6 +21,14 @@ function onBindingContextChanged(data: dependencyObservable.PropertyChangeData)
 }
 
 var contextKey = "context";
+// this regex is used to get parameters inside [] for example:
+// from $parents['ListView'] will return 'ListView'
+// from $parents[1] will return 1
+var paramsRegex = /\[\s*(['"])*(\w*)\1\s*\]/;
+
+// this regex is used to search for all instaces of '$parents[]' within an expression
+var parentsRegex = /\$parents\s*\[\s*(['"]*)\w*\1\s*\]/g;
+var bc = bindingBuilder.bindingConstants;
 
 export class Bindable extends dependencyObservable.DependencyObservable implements definition.Bindable {
 
@@ -197,6 +205,20 @@ export class Binding {
         }
     }
 
+    private prepareExpressionForUpdate(): string {
+        // this regex is used to create a valid RegExp object from a string that has some special regex symbols like [,(,$ and so on.
+        // Basically this method replaces all matches of 'source property' in expression with '$newPropertyValue'.
+        // For example: with an expression similar to:
+        // text="{{ sourceProperty = $parents['ListView'].test, expression = $parents['ListView'].test + 2}}"
+        // update expression will be '$newPropertyValue + 2'
+        // then on expression execution the new value will be taken and target property will be updated with the value of the expression.
+        var escapeRegex = /[-\/\\^$*+?.()|[\]{}]/g;
+        var escapedSourceProperty = this.options.sourceProperty.replace(escapeRegex, '\\$&');
+        var expRegex = new RegExp(escapedSourceProperty, 'g');
+        var resultExp = this.options.expression.replace(expRegex, bc.newPropertyValueKey);
+        return resultExp;
+    }
+
     public updateTwoWay(value: any) {
         if (this.updating) {
             return;
@@ -204,7 +226,8 @@ export class Binding {
         if (this.options.twoWay) {
             if (this.options.expression) {
                 var changedModel = {};
-                changedModel[bindingBuilder.bindingConstants.bindingValueKey] = value;
+                changedModel[bc.bindingValueKey] = value;
+                changedModel[bc.newPropertyValueKey] = value;
                 var sourcePropertyName = "";
                 if (this.sourceOptions) {
                     sourcePropertyName = this.sourceOptions.property;
@@ -215,7 +238,9 @@ export class Binding {
                 if (sourcePropertyName !== "") {
                     changedModel[sourcePropertyName] = value;
                 }
-                var expressionValue = this._getExpressionValue(this.options.expression, true, changedModel);
+                var updateExpression = this.prepareExpressionForUpdate();
+                this.prepareContextForExpression(changedModel, updateExpression);
+                var expressionValue = this._getExpressionValue(updateExpression, true, changedModel);
                 if (expressionValue instanceof Error) {
                     trace.write((<Error>expressionValue).message, trace.categories.Binding, trace.messageType.error);
                 }
@@ -241,6 +266,8 @@ export class Binding {
                     }
                 }
 
+                this.prepareContextForExpression(context, expression);
+
 				model[contextKey] = context;
 				return exp.getValue(model, isBackConvert, changedModel);
             }
@@ -254,6 +281,7 @@ export class Binding {
 
     public onSourcePropertyChanged(data: observable.PropertyChangeData) {
         if (this.options.expression) {
+            //this.prepareContextForExpression(this.source.get(), this.options.expression);
             var expressionValue = this._getExpressionValue(this.options.expression, false, undefined);
             if (expressionValue instanceof Error) {
                 trace.write((<Error>expressionValue).message, trace.categories.Binding, trace.messageType.error);
@@ -266,10 +294,34 @@ export class Binding {
         }
     }
 
+    private prepareContextForExpression(model, expression) {
+        var parentViewAndIndex;
+        var parentView;
+        if (expression.indexOf(bc.parentValueKey) > -1) {
+            parentView = this.getParentView(this.target.get(), bc.parentValueKey).view;
+            if (parentView) {
+                model[bc.parentValueKey] = parentView.bindingContext;
+            }
+        }
+
+        var parentsArray = expression.match(parentsRegex);
+        if (parentsArray) {
+            var i;
+            for (i = 0; i < parentsArray.length; i++) {
+                parentViewAndIndex = this.getParentView(this.target.get(), parentsArray[i]);
+                if (parentViewAndIndex.view) {
+                    model[bc.parentsValueKey] = model[bc.parentsValueKey] || {};
+                    model[bc.parentsValueKey][parentViewAndIndex.index] = parentViewAndIndex.view.bindingContext;
+                }
+            }
+        }
+    }
+
     private getSourceProperty() {
         if (this.options.expression) {
             var changedModel = {};
-            changedModel[bindingBuilder.bindingConstants.bindingValueKey] = this.source.get();
+            changedModel[bc.bindingValueKey] = this.source.get();
+            //this.prepareContextForExpression(this.source.get(), this.options.expression);
             var expressionValue = this._getExpressionValue(this.options.expression, false, changedModel);
             if (expressionValue instanceof Error) {
                 trace.write((<Error>expressionValue).message, trace.categories.Binding, trace.messageType.error);
@@ -287,7 +339,7 @@ export class Binding {
 
         if (this.sourceOptions) {
             var sourceOptionsInstance = this.sourceOptions.instance.get();
-            if (this.sourceOptions.property === bindingBuilder.bindingConstants.bindingValueKey) {
+            if (this.sourceOptions.property === bc.bindingValueKey) {
                 value = sourceOptionsInstance;
             }
             else if (sourceOptionsInstance instanceof observable.Observable) {
@@ -325,10 +377,45 @@ export class Binding {
         this.updateOptions(this.sourceOptions, value);
     }
 
+    private getParentView(target, property) {
+        if (!target || !(target instanceof viewModule.View)) {
+            return {view: null, index: null};
+        }
+        
+        var result;        
+        if (property === bc.parentValueKey) {
+            result = target.parent;
+        }
+
+        if (property.indexOf(bc.parentsValueKey) === 0) {
+            result = target.parent;
+            var indexParams = paramsRegex.exec(property);
+            var index;
+            if (indexParams && indexParams.length > 1) {
+                index = indexParams[2];
+            }
+            
+            if (!isNaN(index)) {
+                var indexAsInt = parseInt(index);
+                while (indexAsInt > 0) {
+                    result = result.parent;
+                    indexAsInt--;
+                }
+            }
+            else {
+                while (result && result.typeName !== index) {
+                    result = result.parent;
+                }
+            }
+        }
+
+        return { view: result, index: index };
+    }
+
     private resolveOptions(obj: WeakRef<any>, property: string): { instance: any; property: any } {
         var options;
 
-        if (property === bindingBuilder.bindingConstants.bindingValueKey) {
+        if (property === bc.bindingValueKey) {
             options = {
                 instance: obj,
                 property: property
@@ -343,6 +430,16 @@ export class Binding {
             var currentObject = obj.get();
 
             for (i = 0; i < properties.length - 1; i++) {
+                if (properties[i] === bc.bindingValueKey) {
+                    continue;
+                }
+                if (properties[i] === bc.parentValueKey || properties[i].indexOf(bc.parentsValueKey) === 0) {
+                    var parentView = this.getParentView(this.target.get(), properties[i]).view;
+                    if (parentView) {
+                        currentObject = parentView.bindingContext;
+                    }
+                    continue;
+                }
                 currentObject = currentObject[properties[i]];
             }